Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Credit risk spikes at eastern European businesses

Businesses trading with eastern European suppliers and customers are at an increased risk of payment default, according to Atradius. New research by the the trade credit insurer found that 86% of eastern European customers have received late payments on invoices during the past year, with 58% citing liquidity issues as the main reason. The report, which analyses data from businesses…

IBM develops tools to help clients deal with GDPR

IBM develops tools to help clients deal with GDPR

IBM develops tools to help clients deal with GDPR

IBM Resilient has developed capabilities to help clients prepare for new data rules under the European Union’s General Data Protection Regulation (GDPR), which takes effect in May 2018. IBM said an incident response capability has been established to address the new requirements, explaining that the “GDPR is one of the biggest changes in data privacy law in decades”. IBM said…

Growing need for boards to embrace enterprise risk management

Growing need for boards to embrace enterprise risk management

Growing need for boards to embrace enterprise risk management

Regulations across Africa are still essential for driving good risk management practice and boards need to shape up as standards rise, according to participants in a roundtable hosted by Commercial Risk Africa this week. Taking part in the roundtable, at the 44th African Insurance Organisation general assembly in Kampala, the roundtable participants told Commercial Risk Africa that regulation remains necessary.…

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

Police investigations into Monday’s terrorist attack in Manchester are revealing a worrying level of sophistication, but analysts see little change in the underlying risk. Following the attack at the Manchester Arena, in which 22 people died and more than 60 were injured, details of a relatively sophisticated attack have emerged. On Tuesday, the UK Home Secretary, Amber Rudd, said it…

Steven Bauman joins XL Catlin as head of global programmes and captive practice in North America

Steven Bauman joins XL Catlin as head of global programmes and captive practice in North America

Steven Bauman joins XL Catlin as head of global programmes and captive practice in North America

XL Catlin has appointed Steven Bauman as head of global programmes and captive practice in North America. Until recently he was head of captive services at Zurich Insurance Group. He will be based in New York and report to Matthew Latham, XL Catlin’s global head of captive programmes. “New business risks continue to emerge and regulatory issues are growing more…

Moody’s downgrades China’s sovereign rating

Moody’s downgrades China’s sovereign rating

Moody’s downgrades China’s sovereign rating

Credit ratings agency Moody’s has cut China’s sovereign rating for the first time in nearly 30 years, sending many of its stocks downwards in one of the biggest single-day drops endured this year on China’s stock market. Moody’s said the decision was based on fears of rising debt and slowing economic growth, and the expectation that “China’s financial strength will…

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

RMS questions Sendai Framework that aims to reduce nat cat risk

Nat cat expert Dr Robert Muir-Wood, chief research officer at RMS, has questioned the metrics behind the Sendai Framework that is used to measure progress on managing natural disasters around the world. With the United Nations (UN) conference on disaster risk reduction starting today, Dr Muir-Wood said important targets set against the Sendai Framework could undermine evidence presented by UN…

NZ business leaders urged to take cyber seriously and buy cover

NZ business leaders urged to take cyber seriously and buy cover

NZ business leaders urged to take cyber seriously and buy cover

New Zealand businesses appear to be failing to take adequate action to identify, manage and prevent ransomware attacks, according to latest research from insurer NZI. The insurer’s poll of some 200 New Zealand business leaders, carried out by Kantar TNS, found that they are becoming increasingly concerned about connectivity. But they are doing little to protect their businesses should they…

An introduction to China’s new cyber security law

An introduction to China’s new cyber security law

An introduction to China’s new cyber security law

On 7 November 2016, the Cybersecurity Law of the People’s Republic of China was enacted and widely heralded as the first comprehensive law dealing specifically and exclusively with cybersecurity issues in China. The law, which will take effect from 1 June 2017, was passed to promote two key objectives: 1) protect the state against cybersecurity attacks; and 2) protect the…

UK raises terror threat to critical

UK raises terror threat to critical

UK raises terror threat to critical

The UK government has raised the terror threat level from severe to critical, which is the highest of five possible categories and suggests another terrorist attack is expected imminently. The last time the threat level was critical was in 2007, after a terrorist attack at Glasgow airport. The change in the threat level came 24 hours after Monday night’s devastating…

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